A rare find in the heart of Waynesville, this updated historic home offers space, comfort and strong investment potential. Located near the Waynesville Inn and Golf Club, the property is ideal for a large family, multigenerational living or short-term rental use. Set on 1.55 acres, the home features a flat yard, mature landscaping, privacy fencing for pets, beautiful Balsam Mountain views and a peaceful creek. There is also space for an RV, with electric and water hookups already in place. Inside, the main home offers a formal foyer, updated eat-in kitchen, butler's pantry, formal dining room and a large wormy chestnut living room with a fireplace. The main level includes five spacious bedroom suites. The lower level has private guest quarters with a separate entrance, along with a large family room or recreation area with a gas fireplace. Additional features include a golf cart garage, a large two-car garage and plenty of parking. The property also offers room to add another garage, guest quarters or rental cottages. A major bonus is the separate Airbnb-style cottage space under one roof. Each cottage includes a full kitchen, dining area, living room and bedroom suite, creating excellent income potential or extra space for guests. This is a unique Waynesville property with room to live, host, invest and enjoy the best of mountain living.